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Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Federal student loan shows paid off?!?

[ Edited ]

So I was in the same boat as many of you, my SL got screwed up when they changed the system in October. EX shows open with a last report date of August. TU shows closed/paid off  as of September and EQ shows open, status of Aug, but has a comment saying account closed due to inactivity. I registered on the new site and it had been split into 3 loans. It looked like the autopay info got lost so I made a manual payment at the end of Oct but alas it did a KwikPay payment on Nov 1st. So I double payed but that took care of my Nov payment.

So I logged onto myedaccount.com today and it shows a balance of $0. I look on payment history and it shows an "other" payment on Dec 8th for $2,014 which is the balance of the loan. I immediately checked my wife's account  which is managed identically and it shows nothing of the sort. Kinda makes me wonder what they're up to. Another consolidation of some sort? The only difference is I am active duty military but that shouldn't matter until another few years when the public service clause is fulfilled. I would love to find out that the loan fairies came and waved their wands and made my SL vanish but I'm not holding my breath. I just wish they would sort out this while fustercluck so I can know where I stand.

 

Edit: clicking on the details from each loan says "transferred" but nothing has hit my credit reports yet.


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Current Score: EQ 780 EX 814 TU 783
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Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Re: Federal student loan shows paid off?!?

UPDATE:

 

I called direct servicing, found out what happened. Because of some law the current administration passed, the Dept of Ed transferred some student loans to a place called MOHELA. (Missouri Higher Education Loan Authority)   Announcement

 

I had to create a new login to service my loan at their website: Click here for Mohela website

 

They have not reported anything to the bureaus yet but I am told it will report the same as the old one ie. same opening date, original loan amount, etc. we'll see.

 

I hope this helps anyone who wonders what the heck happened to their student loan.

 

 

 


Starting Score: 690
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FicoTron
Posts: 512
Registered: ‎01-27-2011
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Re: Federal student loan shows paid off?!?

[ Edited ]

i just registered at Mohela.com to see what the deal was, and if my loan is even being serviced by them...turns out it very well may be, and hopefully if they do, they will report correctly to the bureaus...after I made my account, this is the message that followed...seems like good news.

 

 

Hello FicoTron and Welcome to MOHELA!

 

MOHELA is servicing student loans on behalf of the Department of Education, Office of Federal Student Aid. However, the transfer of your loans to MOHELA for servicing is not yet complete so your detailed account information is unavailable at this time. This process is expected to take up to 2 weeks before your account information is available. Until the transfer is complete, your loan detail will not be available to our Customer Service Professional, in the Automated Phone system, or on your web account. Rest assured we are working diligently for you to have access to your account 24/7!

What you can expect:
Within two weeks of the transfer date of 01/19/2012, your account information will be available by accessing: www.mohela.com or by calling 1-888-866-4352 x4708 to access our Automated Phone System or speak with a Customer Service Professional.

When you will have access:
MOHELA will notify you when the transfer is complete. You will receive a letter in the mail, and if your email address was provided, you will also receive an email notification regarding the transfer. These notifications will also provide you:

  • A list of loans included in the transfer
  • Information needed for making payments
  • MOHELA contact information
  • Instructions on how to access your account information through our website
  • Information to help you manage your student loan


Once your transfer has been completed your account information will be available to Customer Service Professionals, on the Automated Phone System and at mohela.com.

Feel free to browse our website or click our frequently asked questions link below to learn more.

Borrower Fact Sheet

We look forward to providing you with an excellent loan servicing experience at MOHELA

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011
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Re: Federal student loan shows paid off?!?

has anyone else blindly signed up for this like I have and found that mohela does have their loan?  Very very interested to know.  I haven't gotten anything in the mail yet.

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Valued Member
Gracie15
Posts: 45
Registered: ‎11-10-2011
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Re: Federal student loan shows paid off?!?


FicoTron wrote:

has anyone else blindly signed up for this like I have and found that mohela does have their loan?  Very very interested to know.  I haven't gotten anything in the mail yet.



I just tried. Entered my SS# and they said I am not in their system. So at least you know now that not just anyone can sign up and get that response, they must really have it:smileywink:


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FicoTron
Posts: 512
Registered: ‎01-27-2011
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Re: Federal student loan shows paid off?!?

[ Edited ]
Thanks Gracie, hopefully a few others try to sign up and see if they are in the system. The more feedback the better! We need to have our loans reported correctly... Has anyone had their loans reported on their reports by these people yet?
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Frequent Contributor
LTomBerry
Posts: 398
Registered: ‎08-02-2011
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Re: Federal student loan shows paid off?!?


FicoTron wrote:
Thanks Gracie, hopefully a few others try to sign up and see if they are in the system. The more feedback the better! We need to have our loans reported correctly... Has anyone had their loans reported on their reports by these people yet?


Still nothing for MOHELA on TU. I'll check the other two soon but I'm not holding my breath.

My DoE loan is reporting closed on TU and EQ but EX says open, last reported August.


Starting Score: 690
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Valued Member
wamcon
Posts: 43
Registered: ‎06-18-2011
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Re: Federal student loan shows paid off?!?

I do not have information about your loans but my loans were with Direct Loans through DOE and they last reported my payments in August then in October reported closed or transfered and to date both Ex and TU indicate closed but I owe 19K and am paying 300 a month on loans not currently being reported to those two credit bureaus  EQ reports a new tradeline with original start date.  Still cannot get resolution but two indicate I have a total debt of 10K and one indicate a total debt of 30K so I cannot apply for a mortgage until all three are at least in the same ballpark.  My payments when down and appear to be refinanced but the ombudman at DOE said they they were refinanced to Nelnet but I believe they were (for my loans)  It' has effected alot of people...


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